Hold onto your hats, folks! According to a recent analysis by asset manager VanEck, proposed laws to create strategic Bitcoin (BTC) reserves in American states could cost a whopping $23 billion in Bitcoin buys! 💸
VanEck took a gander at 20 state-level Bitcoin reserve bills and found that state governments would have to cough up around 247,000 BTC if these bills become laws. That’s a lot of Bitcoin, folks! And that’s not even counting potential BTC purchases by state pension funds. Yikes!
“This $23b number is potentially conservative,” says Matthew Sigel, VanEck’s head of research. “Many of these states are ‘n/a’ with size unknown.” 🤔
Bitcoin: The New Mainstream Reserve Asset? 🤔
Isaac Joshua, CEO of crypto startup platform Gems Launchpad, told CryptoMoon that Bitcoin is on its way to becoming a mainstream reserve asset thanks to growing institutional and government adoption. And it’s not just state governments jumping on the Bitcoin bandwagon!
US President Donald Trump has ordered staff to explore a potential national strategic Bitcoin reserve. And with more than 150 companies accumulating Bitcoin treasuries, it’s clear that the cryptocurrency is becoming more popular than ever!
Will Trump follow through on creating a national Bitcoin reserve this year? Prediction market Kalshi thinks there’s a 52% chance he will! 🤓
So, what do you think? Will Bitcoin become the new mainstream reserve asset? Let us know in the comments! 💭
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2025-02-12 22:50